Facebook not the most disappointing IPO ever
Facebook logo is seen through the windows of the NASDAQ stock exchange as people walk by on Times Square in New York, May 17, 2012.
And finally today, Facebook, take heart. Yours was not the most disappointing mega-IPO ever.
According to Dealogic, the debut of a Chinese online gaming company a few years back was worse. Giant Interactive Group raised just over a billion bucks in its IPO. Started out well but very shortly turned out to be a bad bet. The stock plummeted 30 percent in its first month.
Facebook's been trading for about a month now and its stock, as of today's close, was down about 25 percent. That's a loss of more than $26 billion, Facebook friends.